College trash is another man’s treasure
from CNN, Aug 4, 2004
Every year, universities have a need to get rid of many outdated or unnecessary items. In the past, they would hold public auctions on campus and invite the public to buy items at a reduced price. Some universities, however, could not find a market for their goods, especially those located in more rural areas of the country. They would wind up selling valuable materials, like pallets of scientific glassware, for “$10 to $15,” which was painfully less than market value.
Oregon State University was one of the first schools to discover that they could make a lot of money and get rid obscure items by selling them online. They started using eBay, a popular online website, during the 1990s. When they started posting their earnings, other universities joined in and saw similar benefits.
Unfortunately, for some schools, selling goods online is forbidden, due to state laws limiting how schools can disburse state property or enter into contracts. Some who can’t yet sell their surplus online still recognize the benefits and are trying to get in on the action. Tim Sell, the business manager for the University of Wisconsin’s surplus goods, set up his own auction site after spending years unsuccessfully trying to sell goods on eBay.
It stands to reason that when states and colleges start to realize the potential for profit through online surplus sales, legislation will start to change so all schools can take advantage of this revenue enhancing tool.
